Aether Industries Ltd

The investor presentation for Aether Industries Limited, dated October 30, 2026, details the company's quarterly performance, capital expenditure, margins, working capital, debt, and capacity utilization. Sales grew 23.96% year-on-year and 6.33% quarter-on-quarter, driven by Contract Exclusive Manufacturing (CEM) and Contract Research and Manufacturing Services (CRAMS), which now account for 65.97% of total revenue. CEM revenue included ₹720 million from Baker Hughes and ₹150 million from pilot plant sales, with capacity utilization at 61% at the Strata site. CRAMS saw growth from new R&D projects and a transition to a 24x7 operating model, with over 65 active projects. The Ascend site's capacity utilization rose to 70%, while the Magnum site is set to launch semiconductor and agrochemical products in Q4 FY27. Capital expenditure for FY27 is estimated at ₹3,000 million to ₹3,500 million, including a new R&D center. EBITDA margins improved to 31.64% for 1H FY27, despite rising logistics costs. Working capital days for debtors decreased to 107, while inventory days increased to 172 due to strategic stockpiling. Debt levels stood at ₹4,152 million in working capital loans and ₹2,085 million in term loans. Capacity utilization across plants increased, with Genesis at 77%, Ascend at 70%, and Strata at 61% as of Q2 FY27.

The presentation highlights strong sales growth, margin expansion, and strategic investments in high-value business segments.